Q3FY10 standalone performance
- Net Profit at Rs 63 crore, up 117%
- Gross Revenue at Rs 291 crore, up 3%
- Basic EPS at Rs. 3.68 Vs Rs 1.94
Nine months standalone performance
- Net Profit at Rs 177 crore, up by 61%
- Gross Revenue at Rs 827 crore, down by 15%
- Basic EPS at Rs 10.33 Vs Rs 7.30
Graphite India Ltd (GIL), one of the major manufacturers of graphite electrodes in the world reported a 117% jump in its Net Profit to Rs. 63 crore for the quarter ending 31st December, 2009 compared to Rs. 29 crore in the same period of last fiscal.
Operating Margin (EBIDTA) stood at 39% in the third quarter as compared to 22% in Q3FY09.
Gross Revenue for the quarter stood at Rs. 291 crore as against Rs. 282 crore; showing a jump of 3% compared to the year-ago quarter.
Basic EPS for the quarter was Rs. 3.68 as compared to Rs. 1.94 in Q3FY09.
Also Read
For the nine months period, Graphite India clocked Gross Revenue of Rs. 827 crore compared to Rs. 971 crore. While, Net Profit for nine months stood at Rs. 177 crore against Rs. 110 crore, up by 61%.
Commenting on the results, Mr. K. K. Bangur, Chairman, Graphite India Ltd said: “Despite very challenging macroeconomic global scenario, our stellar performance during the last quarter vindicates the confidence reposed by the stake holders in the management of the Company. The financial results reflect the strength of our technical capabilities and our focus on driving up the manufacturing efficiencies. Graphite India has a truly global client footprint and remained dedicated in meeting their business requirements.”
New Investment in Power
Power constitutes one of the major costs of electrode production. In order to attain self-sufficiency and uninterrupted availability of quality power at economical rate, the Board of Directors in its meeting held on January 28, 2010, approved setting up of a coal based thermal power plant of 50 MW capacity at Durgapur at an investment of Rs.214 crores. This will increase power generation capacity from current 33 MW to 83 MW and will enable Graphite India to further optimise its cost of production and increase its competitiveness in the global market.
About Graphite India Ltd.
Graphite India Ltd (GIL), headquartered in Kolkata is one of the major manufacturers of graphite electrodes in the world. GIL has a combined capacity of approximately 78000 tonnes per annum spread over four plants at Durgapur, Bangalore, Nashik and Rothenbach in Germany. A truly global company with over 40 years of expertise in the industry, GIL services its clients in over 50 countries.
The company has facilities designed for the manufacture of impervious graphite equipment and glass reinforced plastic pipes and tanks. It has an installed capacity of 33 MW of power generation through hydel and multi-fuel routes, which will be enhanced to 83 MW with installation of a 50 MW thermal power plant.